Even if they find the oil they want, there is still a long way to go:

If the Jack test pans out and the owners
are prepared to invest the billions of dollars
required to bring Jack and the other Lower
Tertiary discoveries into commercial production,
just how do the owners plan to get
the oil to market? For one, the Walker
Ridge area is remote and has no pipeline to
transport the oil ashore. Extending the
existing deepwater pipeline system to
accommodate Lower Tertiary production,
while possible, no doubt would be expensive
and possibly could render the entire
project uneconomic.

src: offshoresource.com
Does anyone have links to research dealing with the EROEI of existing deep water operations?
I have a paper written by one of my students pending publication that suggests deep water EROI is between 8-17:1 - depending on what boundaries one uses. In any case, the EROI for deep water has been increasing since 2000. I will post a link once it is published.
Extending the
existing deepwater pipeline system to
accommodate Lower Tertiary production,
while possible, no doubt would be expensive
and possibly could render the entire
project uneconomic.

As an ignorant, non-oil person, I wonder why would you have to extend the vulnerable pipe-line system into such deep waters.  Couldn't you just have your wells link up to a platform and fill a tanker directly?

you would need a small fleet of tankers dedicated to the field, you would need significant amounts of crude storage, and if the field contains mostly NG, you would need a liquification plant out in the middle of the gulf.

While probably not impossible, I doubt too many companies or insurance companies want to build that much infrastructure in the middle of the gulf.  A big investment to be sunk in the first hurricane.

Generally shuttling oil is not such an unusual way of exporting outside the GOM. Its used extensively in the Norht Sea in both UK and Norway. It does require a different approach to plaform design - FPSO's (ships hulls with storage and processing on board). These haven't been used in the GOM before to my knowledge (not approved?). In anycase, they are pretty much standard technology and certainly capable for this deepwater environment.

Gas production - well if its a small amount you can reinject to dispose, or agregate together with other fields to export. The Walker ridge is remote, but its the next frontier area and if a number of discoveries get off the ground at once new shared gas export infrastructure will probably be worthwhile.

One thing to note is that wells in this environment cost upwards of $100mill each - this will make developments v. expensive and therefore risky to get going.....we could see quite a few delays out there before anything happens.